INNOVATIVE APPROACHES TO COOPERATION BETWEEN AUTHORITIES AND BUSINESS IN FORMING SUSTAINABLE LOCAL DEVELOPMENT STRATEGIES

Abstract

This paper examines innovative approaches to cooperation between government and business in the formation of sustainable local development strategies, which directly affect the modernization of regional governance and contribute to the effective development and rapid recovery of the local economy after military destruction. The theoretical aspects and practical side of the formation of effective models of public-private partnership, which directly depend on the latest innovative mechanisms and existing digital platforms and technologies, are studied, and the growth of the level of business trust in government is also analyzed, taking into account the specifics of Ukrainian communities. The main principles of crowdsourcing and crowd-technologies are determined in the context of coordinated cooperation between business and government in the formation of local development strategies, with an emphasis on the fact that entrepreneurship is the main catalyst for change in the community and is an active participant in territorial transformations. The article highlights innovative approaches to cooperation between government and business in the formation of sustainable local development strategies. The main tasks are to identify obstacles and other barriers unfavorable for business, including the imperfection of regulatory legal acts, distrust of government, military factors with the subsequent restart of the existing public-private partnership in the reconstruction of the country. The important role of innovation policy and the development of progressive labor resources as the main factors in ensuring the functioning of the local economy with further opportunities for business to enter the global market of new technologies and innovations is emphasized. The research made it possible to systematize existing innovative approaches to cooperation between government and business in the formation of sustainable local development strategies and to further adapt them for the purpose of economic growth of any region of our country. In order to implement innovative approaches to cooperation between government and business in the formation of sustainable local development strategies, it is necessary to develop effective innovative mechanisms and approaches to cooperation between government and business in the formation of sustainable local development strategies, based on the existing experience of leading scientists, economists, and statesmen.